One house sold in 2019 and the other in 2020 Using TTBusiness 2019 for initial 1041. All money was distributed in 2020 with the sale of 2nd house. Money sat in an account until both houses sold. then distributed to all beneficiaries. Should initial 1041 show the sale of first house with blank K-1's since no money was distributed and 1041 for 2020 show only 2nd house sold with distributions or show both houses sold on 2020 1041 and show total distribution on final k-1's. By the way Schedule k1-Line 11-Code C is for Long Term Capital Loss Carryover. Code D is Net Operation Loss Carryover - Regular Tax. So would the sale of first house be the NOL Carryover from 2019 into 2020 final return.
